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Views: 93 DOM: 102 Updated: 11.25.24 Posted: 09.10.24 Status: Active

Summary

Price $4,532,000
Built/Renov 2024
Tenant Circle K (GL)
Cap Rate 4.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 5,200
Lease Start 12-01-2024
#Units 16,700
Price/SF $871.54
Expiration 12-01-2039
Tenant Type Convenience/Gas
NOI $215,250
R. Term 14.11
Ownership Ground Lease
Rent/SF $41.39
Increases 5.0%/5/yrs
Pop 5Mi 80,982
Lot/AC 1.73
Options 7/5yrs/5%
AHHI 5Mi $157,350

Lease Highlights

  • Brand new 2024 construction
  • New 15-year ground lease with 7 (5-year) options to extend
  • The lease features 5% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Circle K is strategically located at the signalized, hard-corner intersection of SR-54 and Asturian Parkway, with access to a robust combined daily traffic count of 62,000 vehicles. The property is part of a larger retail development that will feature Ford’s Garage, a three-tenant strip, planned multi-family housing, office spaces, and additional retail options. The site is surrounded by...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Circle K
  • Guarantor:Corp T and Rated
  • Company:Alimentation Couche-Tard
  • # Units:16,700
  • Tenant S&P: BBB+
  • Moody’s: Baa1
  • Stock: TSX: ATD

About Tenant

Circle K Stores, Inc. is an international chain of convenience stores, and the largest independent convenience store operator in the U.S. in terms of the number of company-operated stores. Founded...


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Listing Broker

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